Old News To Us in Real Estate.

There have been several articles all over the print and social media about the rising rental rates here in the Sacramento Region. It was only a matter of time before Renters would turn into Home Buyers because it’s cheaper.

Our Property Management Company with approximately 400 total units of various configurations has only 7 current vacancies with, we think, another 7 coming up within the next 30 days or so.

So it’s no surprise to those of us who work in the field everyday when we hear another news report about the market.

Millennials are beginning to buy homes because Rents are so high here they’ve now begun to figure out it’s a better deal to Buy and own.

I’ve noticed that a lot of the Sacramento Duplexes being financed by FHA loans which are only given to Owner Occupied Buyers.. another trend in my opinion. I’ve written before about buying a Duplex to live in one side and rent the other. No surprise to me of late seeing more people do just that.

If you are currently a renter and would like to be a Home Owner, contact me today and I’ll get you started on your way.

Foreclosures At a 20 Year Low

I get this question all the time from people asking me “how is the real estate market?”.

The short answer is, Great…!

I have some links below that will give you some insight but in the greater Sacramento Area I think it’s one of the best I’ve seen. Why do I say that…?

Have you tried to get a contractor or handyman to fix something at a rental…? When you’ve got contractors busy with a back log of weeks out, that’s probably one of the best signs of a great real estate market.

If you’re thinking of getting into the market for a new home or you are an investor looking to purchase your first rental property or you want to add to your portfolio, please call/text or email me at anytime.

Late Cycle Real Estate Investing Strong

I thought I’d share an article from Bisnow.com. You can subscribe I think for free and they will send you information to your inbox with Real Estate and other business news.

The reason I thought I’d share this is because many people I talk to, including other Real Estate professionals, have the feeling the Real Estate Market is slowing down.

However, the BisNow article points out the trends just before the great recession and the trends of today, especially when it comes to Multi-Family Residential, are much different.

I share the optimism of the writer of the article because it applies to all residential income properties in this area at least, in my opinion. Those types of properties include Single Family Homes, Duplexes, Four-Pelxes and Apartments.

Click here for a local Sacramento Business Journal Article regarding new construction of Apartments in the Region.

So if you’re on the fence about Investing in a Duplex, a Four-Plex, a Single Family Rental or an Apartment complex, please contact me today at 916.203.1260 or drop a note my way via email at: favinger@rwnetwork.com

State of California Always Adding New Laws – Catch Up by Reading Below.

I receive an email newsletter from time to time from the BPE Law Group. Every year we get a slew of new legislation out of the State. You just have to keep up or you’ll be in trouble when it comes to owning Rental Real Estate.

I thought I’d share BPE’S most recent article with you.

I think you can sign up for their updates as well by emailing them at:

These Four-Plexes For Sale in Folsom Are a Rare Occurrence

It not very often that we get a FourPlex for sale on the market here in Folsom but now there are two of them, 205 and 211 Talisman Drive, Folsom.

While they have a great location in a town with all the amenities you’d want close by in an Investment, there are some down sides to these properties.

Both of these FourPlexes have some deferred maintenance of between $12,000 – $15,000 as disclosed by the Pest Inspections provided by the listing broker.

Deferred maintenance is not an uncommon thing, but the other issue I discovered an investor is going to have to take into account is the rents can not be raised on most of these units until very late into 2020.

Click here for the rent roll and you’ll see what I’m talking about. Only one unit that is currently vacant would be available to raise the rent to market.

As you can see the Cash Flow is a bit skinny on these FourPlexes. This is not uncommon in today’s market because most of the time investors area able to increase the rents after close of escrow. However in this situation, you’ll not be able to raise the rent for a long time.

Anyone who gets into escrow on these two FourPlexes will need to review the Seller’s documentation and Maintenance history carefully. And again they will have to take into account rents will be locked in for a long time.

But hey… These are located in Folsom which is one of neatest towns in California. There’s not much on the market now so if you are hot to buy a Folsom FourPlex…. this is what you can get now.

If you want more information about Residential Investment Properties like Duplexes and Four Plexes, call or text me at 916-203-1260 or drop a note my way via email at: favinger@rwnetwork.com.

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Ed Favinger

Phone: 916-203-1260

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620 East Bidwell StreetFolsom, CA 95630

CalBRE # 00812744

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